The Bank of New York Mellon Co. (NYSE:BK) Shares Purchased by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV increased its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 14.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,312 shares of the bank’s stock after acquiring an additional 9,958 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in The Bank of New York Mellon were worth $3,703,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Regent Peak Wealth Advisors LLC acquired a new position in The Bank of New York Mellon during the 4th quarter worth about $26,000. RWM Asset Management LLC purchased a new stake in The Bank of New York Mellon during the 4th quarter worth about $30,000. CVA Family Office LLC purchased a new stake in The Bank of New York Mellon during the 1st quarter worth about $34,000. Valley Brook Capital Group purchased a new stake in The Bank of New York Mellon during the 4th quarter worth about $42,000. Finally, Cranbrook Wealth Management LLC purchased a new stake in The Bank of New York Mellon during the 1st quarter worth about $43,000. 82.08% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:BK opened at $49.87 on Friday. The stock’s 50 day moving average price is $50.03. The stock has a market cap of $43.66 billion, a P/E ratio of 13.30, a PEG ratio of 1.60 and a beta of 1.09. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.63. The Bank of New York Mellon Co. has a 52-week low of $32.65 and a 52-week high of $52.90.

The Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Thursday, April 15th. The bank reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.10. The Bank of New York Mellon had a return on equity of 9.19% and a net margin of 22.24%. The company had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.83 billion. During the same period last year, the firm earned $1.05 EPS. The firm’s revenue for the quarter was down 4.6% on a year-over-year basis. Equities research analysts predict that The Bank of New York Mellon Co. will post 4.06 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 11th. Shareholders of record on Wednesday, April 28th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Tuesday, April 27th. This represents a $1.24 dividend on an annualized basis and a yield of 2.49%. The Bank of New York Mellon’s payout ratio is 30.92%.

Several equities research analysts have weighed in on BK shares. Citigroup cut their price target on The Bank of New York Mellon from $58.00 to $56.00 in a report on Wednesday, April 21st. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell dropped their price objective on The Bank of New York Mellon from $58.00 to $56.00 in a report on Wednesday, April 21st. Barclays increased their price objective on The Bank of New York Mellon from $55.00 to $57.00 and gave the company an “overweight” rating in a report on Wednesday, April 7th. Morgan Stanley dropped their price objective on The Bank of New York Mellon from $50.00 to $46.00 and set an “equal weight” rating on the stock in a report on Monday, April 19th. Finally, Bank of America upgraded The Bank of New York Mellon from an “underperform” rating to a “buy” rating and increased their price objective for the company from $43.00 to $50.00 in a report on Wednesday, March 24th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $50.00.

In other news, insider Kurtis R. Kurimsky sold 10,878 shares of the firm’s stock in a transaction that occurred on Monday, April 19th. The stock was sold at an average price of $46.89, for a total value of $510,069.42. Following the completion of the sale, the insider now directly owns 25,034 shares of the company’s stock, valued at approximately $1,173,844.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP J Kevin Mccarthy sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, April 19th. The shares were sold at an average price of $46.79, for a total value of $1,637,650.00. Following the completion of the sale, the executive vice president now directly owns 114,714 shares of the company’s stock, valued at $5,367,468.06. The disclosure for this sale can be found here. Insiders have sold a total of 58,378 shares of company stock valued at $2,793,344 over the last ninety days. 0.12% of the stock is owned by insiders.

The Bank of New York Mellon Company Profile

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through three segments: Investment Services, Investment and Wealth Management, and Other. The Investment Service segment offers custody, trust and depositary, accounting, exchange-traded funds services, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, brokerage and data analytics, clearing, investment, wealth and retirement solutions, technology and enterprise data management, trading, corporate trust, depositary receipts, payments, foreign exchange, liquidity management, receivables processing and payables management, trade finance and processing, collateral management, and tri-party services.

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Institutional Ownership by Quarter for The Bank of New York Mellon (NYSE:BK)

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